Zhublin Hugues (Hugues Joublin)

Zhublin Hugues (Hugues Joublin)

Biography

2022: Charge of Stock Exchange Manipulation in $7 Billion Company Purchase

In early June 2022, the purchase of 500 shares of Daiichi Sankyo 16 days before the company signed a favorable licensing deal with AstraZeneca put the former head of AstraZeneca under consideration by the Securities and Exchange Commission in the United States. The agency accuses Hugues Zhublin of using insider information for commercial purposes in the form of mergers and acquisitions in biopharmaceuticals by buying shares.

According to a U.S. Securities and Exchange Commission (SEC) complaint, Hug Zhublin, PhD, who was AstraZeneca's head of global corporate oncology, is accused of using his knowledge of the 2019 deal to purchase $20,000 worth of stock.

The SEC is an independent agency of the federal government and the main regulator of the US financial market, part of the four main American regulators. For June 2022, the commission controls the markets for stocks, bonds and derivatives. That being said, the standards and regulatory approaches that the SEC practices.

Hugues Zhublin learned of AstraZeneca's upcoming deal to acquire commercial rights to Daiichi Sankyo's drug Enhertu for breast cancer on March 6, 2019, the filing alleges, and six days later Zhublin bought shares in Daiichi.

On March 28, 2019, a license deal worth $6.9 billion became official and the share price of Daiichi Sankyo increased by 28%, the value of Zhublin's stake in the company increased by $4,955. The US department requires Zhublin to return the profits and pay a fine. Zhublin, 54, who left AstraZeneca in December 2019, has since founded the two companies, becoming CEO of Salience Communication and head of Jublin Consulting.^[1]

Notes